Equity Transactions

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Equity Transactions

Equity Transactions

Dividends Declared

On August 17, 2022, the Company declared a quarterly cash dividend of $1.65 per common share to be paid on November 15, 2022 to stockholders of record at the close of business on October 31, 2022.

Common Stock Repurchases

During the three and nine months ended September 30, 2022, the Company repurchased 50,422 and 397,777 common shares, respectively, at a weighted average price of $198.29 and $201.09 per share, respectively, for a total cost, including fees and expenses, of $10.0 million and $80.0 million, respectively, under its share repurchase program. In May 2022, the Company's Board of Directors authorized an additional 750,000 shares to be repurchased under the share repurchase program. As of September 30, 2022, 881,672 shares remained available for repurchase. Under the terms of the program, the Company may repurchase shares of its common stock from time to time at its discretion through open market repurchases, privately negotiated transactions and/or other mechanisms, depending on price and prevailing market and business conditions. The program, which has no specified term, may be suspended or terminated at any time.